# PPP loan: NEWPORT BIODIESEL, INC.
> **$650K** approved 04/10/2020 · Paid in Full · Loan `1227007102`
## Borrower
- **Name:** NEWPORT BIODIESEL, INC.
- **Address:** 312 CONNELL HWY, NEWPORT, RI, 02840-1037
- **NAICS:** 324110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $650K
- **Initial approval:** $650K
- **Forgiven:** $654K (101%)
- **Forgiveness date:** 11/27/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $650K
- **Jobs reported:** 42
## Lender
- **Originating:** Webster Bank National Association
- **Servicing:** Webster Bank National Association (CT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*